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Frequently Asked Questions
- What does your company do?
GovSpend maintains the database of all government spending at the federal, state, and local levels. We house this information in a searchable database, which allows vendors to see who is most likely to buy their products and where their competitors are having success. We show you the 20% of opportunities that go out for bid as well as the 80% that do not, ie. p-card purchases, discretionary spend, co-ops/contracts, etc. This allows for companies to take a proactive approach and target agencies based on their historical spending before they even go out for bid.
- What makes GovSpend Unique?
GovSpend is the only platform available of its kind that shows what federal, state, and local agencies are buying, who they are buying from, and exactly what they are paying. This includes the government spending that does not go-out for Bid or RFP (Request for Proposal). GovSpend identifies the specific public entities your company should be targeting to win its share of the spend in your market.
- What makes GovSpend different from other bid platforms?
We provide the P.O. data which no other government intelligence platform in the market has. The all-in-one platform can help increase your margins by knowing where to price your proposal. You can also see if an RFP is even worth your time, if they already have a relationship with a competitor or if the pricing the agency paid prior is a margin killer. We are the only company in the world that captures historical spending made by federal, state and local agencies. We allow our clients to see who is buying what they sell, how much they are paying, what vendors they are buying from and direct contact information for each of the agencies. This allows for our clients to be proactive instead of reactive and waiting for Bids/RFPs to be posted.
- How did you come up with the idea of GovSpend?
GovSpend was founded while our CEO, Jeff Rubenstein, was an Auxiliary Police Officer in Delray Beach, FL years ago, he purchased defibrillators (AEDs) for the department. Soon after he found out that a neighboring city had purchased the exact same model of AED but paid a much different price. Initially, the main focus of GovSpend was to help government agencies around the country gain transparency into what each of them were purchasing and the prices they were paying. A couple years later, we rolled out our platform to vendors who were trying to sell to the government and since then have become the centralized marketplace for both agencies and vendors.
Is GovSpend Right for Me?
- Why should I use GovSpend?
GovSpend will allow for your team to be more focused and target the agencies who are already buying the products and/or services your company sells. This will allow for them to create relationships with the buyers/decision makers at each of the agencies and win market share over your competitors.
- What industries is GovSpend best for?
GovSpend is a good fit for all industries. Any organization who is proactively targeting new government business is going to gain a unique competitive advantage by leveraging our combination of Spending, Contacts, Bids and Contracts data. Our clients range from all markets, including but not limited to Education, HVAC, IT Suppliers and Service Providers, Defense Contractors, Distribution Partners and Manufacturers.
- Does GovSpend cover industries within a very narrow niche?
Some of our customers are hyper-specialized and utilize GovSpend to identify complementary and “teaming partners” to expand their niche and to find the right vendor for their needs.
- How do you differ from being on GSA (U.S. General Services Administration)?
GovSpend provides government spending with agencies regardless of how they are purchasing. GSA is scheduled pricing that agencies can utilize if they choose. GovSpend tracks all their different spend methods, beyond just GSA… here are a few: state contracts, Co-ops, piggy-backing, discretionary spending, p-cards, sole sourcing, and quote requests.
- Do I need a large sales team to use GovSpend?
No! All you need is one to a handful of people who will be dedicated to using GovSpend and marketing to government agencies. Our customers vary from having a team of 100+ focused on procurement, to small business owners working individually.
- Can I use your contacts for email marketing?
Yes. Account-based marketing and targeting campaigns are a great way to boost your presence with agencies. To comply with anti-spam laws contacts are not “opted-in” to receive emails.
- We only sell to agencies in a small geography. Why do I need this?
GovSpend has the ability to narrow data down to a single territory. This can provide a more accurate pulse on the agencies you service, allowing your business to be more competitive in the market.
The GovSpend Service
- What does a GovSpend subscription provide?
GovSpend provides you access to a unique data set of historical purchases made by all levels of the government: federal, state and local. You are able to see which agencies are buying the products/services your company sells, the prices they are paying, vendors they are working with along with direct contact information for employees at each of the agencies. In addition, we provide upcoming Bid/RFP solicitations from thousands of sources.
- What does your customer experience look like?
Upon getting started with GovSpend, our customers will go through On-boarding sessions with members of our Customer Experience team. The goal of that call is to get an understanding of the customers’ goals, territories they cover, competitors, products/services they provide and help create a road map as to how they will utilize GovSpend. Our team works with our customers every step of the way to help strategize and set up their saved searches/email alerts. Our customers will have unlimited training and support throughout their entire subscription.
- What is your on-boarding process for new customers?
Once signed up, each client will receive a welcome email with an invitation to schedule their on-boarding with our Customer Experience (CE) team. Our CE team is made up of highly trained support specialists that provide assistance for GovSpend related items such as search requests, additional training, and any other various items. They are available via live chat, email, and phone Monday through Friday from 8 am to 6 pm US Eastern Time during business days.
- What’s a customer’s average return on investment (ROI)?
Due to the different wants and needs of customers, their return on investment is based on a number of factors. This can include the cost of their products/services, typical margins, number of users using GovSpend and selling coverage. Historically we have seen a 9-12% increase for clients in public sector departments. On average, customers see a break even return within 6 months.
- How do you get your database information?
We have a dedicated team that cultivates relationships with each agency and requests their purchase information directly from them. In addition, government agencies will in-turn use our database for their own procurement needs.
- Why should agencies report this data?
Due to FOIA (Freedom of Information Act), agencies are required to report this data when requested so that there is complete transparency and open competition for all vendors they work with. GovSpend has streamlined and automated this process.
- When is data updated?
We add data to our platform everyday. Each agency varies in its own refresh cycle, which can be anywhere from 1 to 90 days. Bids are updated 2-4 times a day, POs are updated daily, and Contacts are refreshed every 6 months.
- Can I export the data?
Customers can retrieve up to 10,000 line items and/or contacts per month. This data can then be exported into a .CSV or Excel file or via third-party integration such as Zapier, or API Keys, via JSON.
- What kind of coverage do you have?
We have 100% of federal spending (they’re easy – only around 350 of them) and around 85% of everything else.
- How many purchase orders are in the GovSpend system?
Over 859 million records, and counting! New data is added everyday.
- How many Federal POs & Agencies are included in the database?
We have over 47 million transactions in our database that stem from a total of 283 federal agencies.
- These transactions have already occurred, how does historical data help me?
Historical data helps to be more competitive on pricing but also helps for rapport building prior to the RFP being publicly released and written around a competitor’s offering. Our clients leverage this information to create relationships with the buyers and decision makers from each of the agencies to help influence their next purchase. Our data allows for our customers to take a more proactive approach as opposed to reactive by waiting for Bids/RFPs to be released, at which point is often too late as the agency will typically have a vendor in mind prior to releasing the Bid.
Find out more about GovSpend's platform